In the hours before Iran launched missiles at U.S. bases in Iraq, fear in the stock market was muted.
U.S. stocks mostly fell on Tuesday, but the big rush for safety that coursed through global markets after the United States killed a top Iranian general on Friday slowed somewhat in the hours before Iran retaliated with rocket attacks on U.S. bases in Iraq.
The market’s return to a wait-and-see approach wasn’t that surprising to some investors, even as talk remained tough in the increasingly tense U.S.-Iran confrontation and U.S. officials braced for an Iranian response to their drone strike against Gen. Qassem Soleimani. “The market seems to be looking right past” the tensions, he said. “I’m much more concerned about the fundamentals. The lack of earnings visibility is troubling.”
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